Alta Mining (FOGC) Entered Option Agreement in Slocan, Canada

HENDERSON, Nev., Sept. 6, 2011 /PRNewswire/ -- Fortune Oil & Gas, Inc. (PINK SHEETS: FOGC) (www.fortuneoilandgascorp.com), subsidiary Alta Mining Inc., entered into an Binding Option Agreement in Slocan, Canada.

Based on the agreement, Alta Mining can acquire a 90% undivided interest in the Wilson Creek and Kane Creek Property comprised of 25 mining claims, totalling over 6000 hectares of already verified high grade silver showings.

If the exploration work on the property determines the project as a feasible mining operation (based on criteria described in the option agreement), Alta will be in position to accelerate payments and become a lawful registered owner of the mining claims.

Alta mining believes that with a fresh approach it could uncover substantial new value on this property. Due to favourable location of the property management expects a significantly lower time and resources spent in advancing the BC project beyond the exploration phase.

As soon as the company finalizes compilation of available geological and technical information on the property, this information on property potential will be presented on company's web site www.fortuneoilandgascorp.com.

Company will work diligently to further increase its property portfolio with prosperous mining properties in North America.

More details will follow shortly.

Safe Harbor Statement

Information in this news release may contain statements about future expectations, plans, prospects or performance of Fortune Oil & Gas, Inc., that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Fortune Oil & Gas, Inc. cautions you that any forward-looking information provided by or on behalf of Fortune Oil & Gas, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Fortune Oil & Gas, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Fortune Oil & Gas, Inc.'s control. In addition to those discussed in Fortune Oil & Gas, Inc.'s press releases, public filings, and statements by Fortune Oil & Gas, Inc.'s management, including, but not limited to, Fortune Oil & Gas, Inc.'s estimate of the sufficiency of its existing capital resources, Fortune Oil & Gas, Inc.'s ability to raise additional capital to fund future operations, Fortune Oil & Gas, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Fortune Oil & Gas, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Fortune Oil & Gas, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

Fortune Oil & Gas, Inc.

Investor Relations
1-647-426-1640
www.minamargroup.net/helpdesk

Investor Relations Department Inquiries
www.minamargroup.net

For M&A and Corporate Matters
www.minamargroup.com

SOURCE Fortune Oil & Gas, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED